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Late-stage deals in space have been on the decline this year, but there is one notable exception Space Fleet Technologies$100 million Series D.
The Adelaide, Australia-based startup has raised new funding to accelerate the development of ExoSphere, a platform to enable real-time mineral exploration from space. The company currently has two satellites in low Earth orbit that communicate with ground sensors; Using artificial intelligence, sensors and satellite data can generate predictive insights and target holes for prospectors.
The fleet will also send a payload to the Moon aboard Firefly Aerospace’s lunar lander in 2026. This sensor will capture seismic data from the lunar surface that will help researchers better understand the lunar surface and its mineralogy.
The new round, which values the company at $525 million, was led by Teachers’ Venture Growth (TVG), the investment arm of the Ontario Teachers’ Pension Plan, and was joined by existing investors Blackbird Ventures, Hostplus, Horizons Ventures, Artesian Venture Partners, and Graduate Ventures. The company has more than doubled its valuation since its Series C round last year.
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